Tintra PLC Expected delay in publication of Annual Report (5539G)
19 Juli 2023 - 3:00PM
UK Regulatory
TIDMTNT
RNS Number : 5539G
Tintra PLC
19 July 2023
THIS ANNOUNCEMENT CONTAINS INFORMATION THAT QUALIFIED OR MAY
HAVE QUALIFIED AS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7
OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK
DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018
("UK MAR")
19 July 2023
Tintra plc
("Tintra", the "Group" or the "Company")
Expected delay in publication of audited Annual Report
Potential suspension of share trading from 1 August 2023
The board of directors (the "Board") of Tintra, the rapidly
innovating Deep Tech & Banking business, provides the following
updates regarding the Group's audit and annual report for the year
ended 31 January 2023 ("FY23").
The Board understands that generally across the quoted company
environment, companies are experiencing increasing pressure on
audit timetables.
The preparation of the Company's 2023 financial statements has
been ongoing. However, following discussion with the Group's
auditors, MHA, it has become clear that the audit for its accounts
for FY23 will not be achieved within the normal 6-month timeframe.
Therefore, the Board has concluded that the Company will not be in
a position to publish its audited accounts for FY23 before 31 July
2023, the deadline as stipulated by Rule 19 of the AIM Rules for
Companies.
This delay to the audit completion means that the Company will
only be in a position to release its unaudited accounts to YE Jan23
prior to the AGM on 31 July 2023, with the audited annual report
and accounts to follow later. The Directors fully expect the
audited results for FY23 to be in line with the unaudited accounts
for FY23.
The Company remains committed to finding a positive resolution
to this matter. If in the event that this cannot be achieved before
31 July 2023, trading in the Company's shares would then be
temporarily suspended from trading on AIM with effect from 7.30
a.m. on 1 August 2023 until the publication of its audited accounts
for FY23.
Further updates in relation to progress with its audited
accounts for FY23 will be provided as appropriate.
The Board states, "We have been working hard to ensure that the
accounts are delivered on time, having started work with specialist
consultants for technical aspects of the audit preparation more
than three months ago. The delays with the final audit process are
outside of the Company's control, despite an incredible amount of
work having been and being done to push this faster. While the
Company is frustrated with this position and its potential for
distraction, it confirms that it has no impact at all on the work
of the various teams in the Company or from our greater
mission."
For further information, contact:
Tintra PLC
(Communications Head)
Hannah Haffield
h.haffield@tintra.com
Website www.tintra.com 020 3795 0421
Allenby Capital Limited
(Nomad, Financial Adviser & Broker)
John Depasquale / Nick Harriss / Vivek
Bhardwaj 020 3328 5656
This announcement is released by Tintra plc and contains
information that qualified or may have qualified as inside
information for the purposes of Article 7 of UK MAR, encompassing
information relating to the placement mentioned above. For the
purposes of UK MAR, this announcement is made by Hannah Hatfield,
Communications Head of Tintra plc.
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END
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